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Vystar Stock Surges After Announcing The Big News: What Next?
One of the stocks that has come into focus in recent days it that of Vystar Corp. (OTCQB:VYST) and on Thursday the stock rallied impressively on the back of a significant announcement from the company.
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Key Details
The company announced yesterday that it has engaged the services of Strategic Link Assoc to take care of the manufacturing, supply chain, and logistics related to its product Vystar Rx3000. The product in question is a hybrid ultraviolet and HEPA filter air purification system that could be used in healthcare establishments. More importantly, the product has also been certified as a Class II Medical Device and that certification is one of the unique selling points of the Rx3000.
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It is a significant development for Vystar since the association with Strategic Link is going to allow it to boost production capacity significantly and meet the growing demand for its air purification product. The Rx3000 is meant for reducing and blocking airborne viruses and bacteria.
Hence, it is a particularly important product at a time when the coronavirus pandemic is still raging with no end in sign. On Wednesday, the director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci spoke about pandemic at the Harvard Forum on Coronavirus. He stated that the virus could be airborne and in light of such a statement, the importance of a product like Rx3000 becomes more pronounced.
The announcement from the company was received well by the market and soon enough the stock started climbing. The Vystar stock soared by as much as 34% on the back of the news.
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Considering the sort of gains made by the stock, it is highly likely that more and more investors are going to be tracking the stock today. It remains to be seen if the Vystar stock can manage to add to its gains today to end the week on a high. However, in this regard, it is also necessary to point out that Vystar is working on other products as well in order to help tackle the spread of the coronavirus.
Towards the end of July, the company announced that it has contracted a manufacturing company in Thailand and is going to produce natural rubber latex disposable gloves. The gloves in question are meant for workers as well as consumers and are going to help in stopping the spread of the coronavirus through hand to hand contact.
The company added that gloves would be made available for online purchase from September. In July, the company had made another vital announcement that had caused a lot of optimism among investors. Vystar announced on July 21 that it had resumed the production of its RXAir400 air purifier after having managed to rope in a new manufacturer.
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